M&T Bank CEO Rene Jones Sells $4.64M in Stock Under Rule 10b5-1 Plan
M&T BANK CORP
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Filing Summary
# M&T Bank Corp ($MTB) - Insider Transaction Report
**Insider:** Rene F. Jones (Chairman of the Board and CEO)
**Transaction Date:** September 14, 2026
**Filing Date:** September 16, 2026
### Summary of Transactions:
- **Option Exercise (Code M):** Acquired 16,770 shares at $190.78/share
- **Tax/Exercise Withholding (Code F):** Disposed 15,101 shares at $239.48/share ($3,616,387.48)
- **Open Market Sale (Code S):** Sold 19,396 shares at $239.35/share ($4,642,432.60)
- **Rule 10b5-1 Plan:** Yes (Adopted June 12, 2026)
### Post-Transaction Holdings:
- **Direct Ownership:** 103,830.79 shares
- **Indirect Ownership:** ~8,291.47 shares (Custodial accounts & 401(k))
Comprehensive Analysis
Executive Summary
On September 14, 2026, Rene F. Jones, Chairman of the Board and Chief Executive Officer of M&T Bank Corp ($MTB), executed a series of option exercises and stock sales under a pre-established Rule 10b5-1 trading plan.
Transaction Details
- Derivative Exercise: Exercised stock options for 16,770 shares of Common Stock at an exercise price of $190.78 per share.
- Shares Withheld (Code F): 15,101 shares were withheld/surrendered at $239.48 per share ($3.62M value) to cover exercise costs and tax obligations.
- Open Market Sale (Code S): Sold 19,396 shares of Common Stock at an average price of $239.35 per share, realizing gross proceeds of approximately $4.64 million.
- Trading Plan: The transactions occurred automatically pursuant to a Rule 10b5-1 trading plan adopted on June 12, 2026.
Ownership Structure Post-Transaction
- Direct Holdings: 103,830.79 shares remaining directly owned.
- Indirect Holdings: 6,157 shares held via 401(k) plan, and 2,134.47 shares held across custodial accounts for family members.
Market & Governance Context
Because these transactions were executed under a pre-scheduled Rule 10b5-1 plan and involved expiring option exercises, they represent standard executive compensation liquidity rather than a discretionary market-timing decision.
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